Market Overview:
The global internet insurance market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing penetration of internet and smartphones, rising awareness about online insurance policies, and growing demand for customized insurance products. The life insurance segment is expected to account for the largest share of the global internet insurance market in 2018. This segment is projected to grow at a CAGR of 11% during the forecast period. The property insurance segment is projected to grow at a CAGR of 10% during the same period. Regionally, North America accounted for the largest share of the global internet insurance market in 2017 and this trend is expected continue throughoutthe forecast period.
Product Definition:
Internet Insurance is a type of insurance that covers businesses and individuals against losses incurred as a result of using the internet. The importance of Internet Insurance lies in the fact that it can help protect businesses and individuals from potentially devastating financial losses in the event that their online activities lead to any sort of legal action.
Life Insurance:
Life insurance is a contract between an insurer and the insured, in which the former promises to pay the latter a sum of money upon death. The basic premise of this contract is that the life of the insured person cannot be exploited for financial gain by either society or by other individuals. Life insurance provides benefits such as income continuation to family members and reduced inheritance tax/estate planning costs.
Property Insurance:
Insurance is a type of financial protection from the possible loss or damage. It helps in risk sharing and reducing the uncertainty of events, which may occur in future. There are different types of insurance such as health, property, life and motor insurance. The main function of these policies is to help people protect their assets against losses by providing them with security against risks that they cannot afford to take on their own.
Application Insights:
The global internet insurance market is segmented on the basis of application into personal and group. The group application segment dominated the overall industry in terms of revenue share in 2017, as a result of high usage rates for online life assurance and property insurance among small groups. Moreover, growth in e-commerce has increased the number of transactions that require payment and also resulted in higher demand for these products from customers across the globe. This factor is anticipated to drive growth over next few years.
Personal internet insurance offers various advantages including easy claim settlement, flexible premium payments through credit cards & e-wallets, direct debiting option without third party intervention etc., which are likely to propel its demand over next few years. In addition, rising awareness about protection against risks due to natural disasters such as earthquakes or floods at a domestic level is expected to increase penetration rate globally over forecast period thereby driving industry expansion during this period.
Regional Analysis:
Asia Pacific is expected to be the fastest-growing regional market over the forecast period. The growth can be attributed to a rise in disposable income, coupled with an increase in spending on insurance by companies. Asia Pacific has been witnessing strong economic growth and this trend is expected to continue over the next eight years, thereby driving demand for insurance products across this region.
The European market was valued at USD X billion in 2017 and is projected to grow at a CAGR of XX% from 2018 to 2030 owing high level of security consciousness among consumers as well as underwriting profitability for international insurers operating within Europe’s borders. Property damage caused by natural disasters such as earthquakes and hurricanes are also contributing toward demand within Europe's borders due high occurrence rate of these events that exceed insured losses or claims frequency (frequency).
Growth Factors:
- Increasing demand for online insurance policies: The increasing demand for online insurance policies is one of the primary growth drivers for the internet insurance market. This can be attributed to the ease and convenience offered by online platforms, which helps customers compare and purchase policies quickly and easily.
- Proliferation of connected devices: The proliferation of connected devices is another key factor that is expected to drive growth in the internet insurance market. With more people using smartphones, tablets, and other connected devices to conduct their day-to-day activities, there is a greater need for comprehensive coverage against cyber threats.
- Rising awareness about cyber risks: There has been a significant rise in awareness about cyber risks in recent years, owing to an increase in high-profile data breaches and ransomware attacks. This has led many consumers to purchase cyber liability insurance policies as a way of mitigating these risks.
Scope Of The Report
Report Attributes
Report Details
Report Title
Internet Insurance Market Research Report
By Type
Life Insurance, Property Insurance, Comparison of Insurance
By Application
Personal, Group
By Companies
Lifenet Insurance, Allstate, Inweb, Money Super Market, PICC Group, Ping An Group, AIG, Zhongmin, Huize, China Life
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
205
Number of Tables & Figures
144
Customization Available
Yes, the report can be customized as per your need.
Global Internet Insurance Market Report Segments:
The global Internet Insurance market is segmented on the basis of:
Types
Life Insurance, Property Insurance, Comparison of Insurance
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Personal, Group
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Lifenet Insurance
- Allstate
- Inweb
- Money Super Market
- PICC Group
- Ping An Group
- AIG
- Zhongmin
- Huize
- China Life
Highlights of The Internet Insurance Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Life Insurance
- Property Insurance
- Comparison of Insurance
- By Application:
- Personal
- Group
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Internet Insurance Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
How you may use our products:
- Correctly Positioning New Products
- Market Entry Strategies
- Business Expansion Strategies
- Consumer Insights
- Understanding Competition Scenario
- Product & Brand Management
- Channel & Customer Management
- Identifying Appropriate Advertising Appeals
8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
Internet insurance is a type of online insurance that provides coverage for losses or damages that occur as a result of cybercrime.
Some of the major players in the internet insurance market are Lifenet Insurance, Allstate, Inweb, Money Super Market, PICC Group, Ping An Group, AIG, Zhongmin, Huize, China Life.
The internet insurance market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Internet Insurance Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Internet Insurance Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Internet Insurance Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Internet Insurance Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Internet Insurance Market Size & Forecast, 2018-2028
4.5.1 Internet Insurance Market Size and Y-o-Y Growth
4.5.2 Internet Insurance Market Absolute $ Opportunity
Chapter 5 Global Internet Insurance Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Internet Insurance Market Size Forecast by Type
5.2.1 Life Insurance
5.2.2 Property Insurance
5.2.3 Comparison of Insurance
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Internet Insurance Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Internet Insurance Market Size Forecast by Applications
6.2.1 Personal
6.2.2 Group
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Internet Insurance Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Internet Insurance Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Internet Insurance Analysis and Forecast
9.1 Introduction
9.2 North America Internet Insurance Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Internet Insurance Market Size Forecast by Type
9.6.1 Life Insurance
9.6.2 Property Insurance
9.6.3 Comparison of Insurance
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Internet Insurance Market Size Forecast by Applications
9.10.1 Personal
9.10.2 Group
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Internet Insurance Analysis and Forecast
10.1 Introduction
10.2 Europe Internet Insurance Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Internet Insurance Market Size Forecast by Type
10.6.1 Life Insurance
10.6.2 Property Insurance
10.6.3 Comparison of Insurance
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Internet Insurance Market Size Forecast by Applications
10.10.1 Personal
10.10.2 Group
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Internet Insurance Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Internet Insurance Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Internet Insurance Market Size Forecast by Type
11.6.1 Life Insurance
11.6.2 Property Insurance
11.6.3 Comparison of Insurance
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Internet Insurance Market Size Forecast by Applications
11.10.1 Personal
11.10.2 Group
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Internet Insurance Analysis and Forecast
12.1 Introduction
12.2 Latin America Internet Insurance Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Internet Insurance Market Size Forecast by Type
12.6.1 Life Insurance
12.6.2 Property Insurance
12.6.3 Comparison of Insurance
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Internet Insurance Market Size Forecast by Applications
12.10.1 Personal
12.10.2 Group
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Internet Insurance Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Internet Insurance Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Internet Insurance Market Size Forecast by Type
13.6.1 Life Insurance
13.6.2 Property Insurance
13.6.3 Comparison of Insurance
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Internet Insurance Market Size Forecast by Applications
13.10.1 Personal
13.10.2 Group
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Internet Insurance Market: Competitive Dashboard
14.2 Global Internet Insurance Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Lifenet Insurance
14.3.2 Allstate
14.3.3 Inweb
14.3.4 Money Super Market
14.3.5 PICC Group
14.3.6 Ping An Group
14.3.7 AIG
14.3.8 Zhongmin
14.3.9 Huize
14.3.10 China Life
